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April 12, 2022

long term care


What Are the Three Types of Long-Term Care?

Nursing homes, also called, skilled nursing, is when someone requires 24/7 care. The facilities that have skilled nursing usually will also have rehabilitation therapy programs and advanced medical services. These facilities are a long-term care option but can also be an option for short-term patients.

April 1, 2022

blog


Helping Your Elderly Parents Move

When you were a kid, you probably never imagined there would come a day when your parents needed your support more than you needed theirs. However, if your elderly parents ever opt to move, they'll likely need you to assist them. Moving is difficult for anybody, but it is challenging for seniors who have lost a lot of their mobility over the years.

March 25, 2022

grandparents and grandchildren cooking

long term care


What are Activities of Daily Living?

A phrase that often comes up when considering long-term care options is activities of daily living. You might be wondering what these activities are and why they are important. Activities of daily living, also known as ADLs, consist of essential tasks that most healthy individuals can perform on their own.

March 11, 2022

hands counting coins

long term care planning


How to Protect Your Money If Your Spouse Goes into a Nursing Home

Long-term care can be very expensive, and the last thing you want is to be left destitute if your spouse requires nursing home care. So, what are you supposed to do? Fortunately, you have options to protect your hard-earned savings in the face of a care need. Allow us to clear up some misconceptions you may have about Medicaid and reveal how you can protect your assets from the nursing home.

March 9, 2022

man turning pages in binder

medicaid planning


Medicaid Compliant Annuity: How to Become Medicaid Eligible

If you or a loved one are looking to become eligible for Medicaid to help pay for long-term care, you may wonder how you can spend down your excess assets. And if your loved one is already receiving care, Medicaid Compliant Annuities may be the answer you are looking for.

March 7, 2022

medicaid planning


What Does Medicaid Allow for Funeral Expenses?

Medicaid allows up to $15,000, in most states, to be funded into an irrevocable funeral expense trust for funeral expenses. The funeral expenses can include the following: Funeral home fees Musicians for service Headstone Death Certificate Hearse Cemetery Fees Burial Plot Casket Flowers (will vary based on state)

March 2, 2022

husband and wife holding hands

long term care


How to Protect Your Assets from Nursing Home Costs

Paying for long-term nursing home care can drain anyone’s nest egg but is it a necessary evil in order to receive the care you need? No. There are options out there to help pay for care without going broke - and we can help you explore them.

February 25, 2022

hands passing out medication

long term care planning


How Much Does a Nursing Home Cost in 2022?

One of the biggest shocks for seniors planning for their long-term care is how expensive care facilities can be. At-home care and assisted living costs vary depending on the level of care required, but nursing homes are usually the most expensive since they provide hands-on, round-the clock care. Here’s what to expect when it comes to nursing home costs in 2022.

February 23, 2022

5 stacks of coins

long term care


5 Ways to Help Pay for Senior Care

Paying for long-term care is an epidemic proportion problem in the United States. You see, 70% of seniors will require some form of long term care, and only a small percentage actually plan for it. Understanding how to pay for long term care before you need it can be extremely beneficial to ensure your spouse, kids, or other loved ones don’t have to deal with the burden and can survive beyond your passing.

February 18, 2022

calendar

medicaid planning


What is the Medicaid Lookback Period? 

If someone you love is in need of senior care or long term care, and you’re helping them apply for Medicaid eligibility, then you’ll likely come across the term “look back period”. The lookback period is an extremely important term that can help you understand how to avoid steep financial penalties.

February 15, 2022

man signing papers

advance planning


What is a Funeral Trust? [Pros, Cons & Strategies]

Looking for a way to help spend down your countable assets for Medicaid eligibility for long-term or senior care? With an irrevocable funeral trust, you can spend down your assets and provide peace of mind for your loved ones for your end of life expenses.

February 11, 2022

house with white picket fence

medicaid planning


What are Countable Assets & How Do I Spend Them Down?

An aging adult applying for Medicaid may realize they have many assets but they don’t know which assets Medicaid will count and which will be uncountable. Countable assets become important as a long-term care Medicaid applicant attempts to spend down these assets to receive benefits.

February 9, 2022

pen sitting on contract

advance planning


What is Asset-Based Long-Term Care (LTC)?

Asset based long-term care is a type of life insurance that can be used to help pay for long-term care. If there are funds left after the death of the policy owner, the beneficiaries will receive a death benefit that can help with funeral expenses or to simply help with their personal finances.

February 7, 2022

senior care


How to Choose a Nursing Home: Features to Consider

If you’ve decided it’s time to move your loved one into a nursing home, you’ll want to keep an eye out for certain features to make sure your loved one is cared for appropriately. However, you’ll also want to make sure to look for any red flags, too.

February 3, 2022

man signing papers

medicaid planning


Medicaid Trusts: How to Use An Irrevocable Trust in Planning

If you are planning in advance for long term care, and hope to use Medicaid coverage down the road - then an Irrevocable Trust may be right for you. Sometimes referred to as a “Medicaid Trust”, these legal products can be a very helpful spend down tool, especially if you have a little time on your side. 

February 2, 2022

medicaid planning


Medicaid Planning, Strategies & Resources

If your loved one is in need of long term care, you may need Medicaid benefits to help you subsidize or lower the cost. This is a great way to preserve assets or create a legacy for your family. The only problem is that you have to become eligible to receive benefits.

February 1, 2022

medicaid planning


What is the Asset Limit for Medicaid?

The asset limit for Medicaid is around $2,000 for a single person and $3,000 for a couple, however, this limit will vary depending on the state in which you reside. This asset limit includes cash, saving accounts and physical items. You can learn more about Medicaid eligibility here.

January 31, 2022

long term care


What is Long-Term Care & How Can I Plan For It?

If you or a loved one are constantly hearing how you should be “planning for long-term care” but you don’t even know where to start, let us help. We walk you through what long-term care planning is, different ways to plan and possible options available.

January 27, 2022

medicaid planning


Spend Down Ideas & Strategies for Medicaid Eligibility

An applicant is only allowed so many assets to qualify for Medicaid coverage but recklessly spending down your assets can lead to a lengthy penalty period.

January 27, 2022

plan in large black letters with grid background

advance planning


Why Should You Plan Ahead for Long-Term Care?

It’s natural to assume you’ll never need long-term care. But in reality, over 70% of individuals turning 65 will require some form of professional care in their senior years. So, why should you plan for this long-term care need?

January 21, 2022

adult child helping elderly parent

long term care


When to Move Your Loved One into a Nursing Home

Are you caring for an elderly loved one whose condition is worsening? How do you know when it’s the right time to move them into a nursing home? Here are some tips to help you know when it’s time for your loved one to transition to a professional care facility.

January 17, 2022

person counting 20 dollar bills

long term care planning


How to Pay for Long-Term Care

With nursing homes costing upwards of $8,000, $9,000 per month, long-term care can be very expensive. The question is—how will you pay for this care? Fortunately, you have a few options to cover these costs.

December 9, 2021

guest blog


Is It Time to Move Closer to Your Senior Loved One?

The decision to become a family caregiver is never easy. Additionally, figuring out the logistics of your move can be challenging. With the right strategy, you can make the process simpler and discover the right steps to take.

December 2, 2021

elderly couple sitting on bench by water

medicaid planning


How to Protect Assets from the Nursing Home

If you or a loved one needs to enter a nursing home, you might be worried about losing your nest egg paying the monthly bill. Fortunately, with the right guidance, resources, and strategies, you can safeguard your assets and preserve them for your spouse or future generations.

November 17, 2021

dollar bills rolled up

medicaid planning


How Much Does Medicare Pay for Long-Term Care?

Many seniors are under the assumption that Medicare will cover some or all of their long-term care. Unfortunately, that is not the case. Medicare only covers a nursing home stay in specific circumstances for elderly or disabled individuals who are recovering from an injury, illness, or some other adverse health event.

November 3, 2021

woman counting cash

long term care


How Much Does Medicaid Pay for Long-Term Care?

Medicaid is one of the most common payers of long-term care in the U.S. But how much of your care costs will Medicaid actually cover? Since Medicaid is designed to help individuals with limited income and assets, there is no standard co-pay. Instead, the amount paid by Medicaid varies depending on the recipient.

October 27, 2021

nurse taking blood pressure of elderly woman

long term care


What are Long-Term Care Facilities?

As you or your loved one grow older and become unable to take care of yourself, you may require some type of long-term care. In general, these facilities can be separated into three categories: nursing homes, assisted living facilities, and home-based care

August 10, 2021

Man helping elderly parents research senior living facilities

senior care


How to Find the Best Senior Living Community

Moving into a senior living facility can feel intimidating, but finding the right fit for you or your loved one can make the process easier. Learn the factors to consider when choosing a community, including the level of care required, location, and amenities.

February 22, 2021

elderly man working on laptop with notebook

long term care planning


Setting the Common Man Free – Financially

For nearly half a century, common working-class Americans have struggled to maintain their wealth. But the biggest threat to their American Dream is yet to come. Learn how we have helped thousands of common Americans avoid and overcome the financial burden of long-term care—AND how we can likely help you as well.

February 11, 2021

woman working on laptop with notebook and mug

long term care planning


3 Must-Know Facts About Long-Term Care Planning

Long-term care planning can be a daunting and complicated process. Fortunately, we can help! Here are three of the most important things to remember as you embark on your long-term care planning journey.

February 3, 2021

clear jar of 100 dollar bills

long term care planning


You Can’t Afford NOT to Plan for Long-Term Care

Planning for the future allows you to grow and protect your wealth more effectively, especially as you enter your senior years. In addition to your retirement and estate plans, do you have a long-term care plan? If not, you risk losing your entire life savings paying for care. Find out how a long-term care plan can save you money in the long run.

January 27, 2021

senior couple signing paperwork

advance planning


3 Common Solutions for Long-Term Care Pre-Planning

When planning for long-term care, timing is everything. Planning ahead is ideal since it presents more options for preserving your hard-earned assets. Here are some of the most common solutions for pre-planning for long-term care.

January 14, 2021

elderly woman looking to the side out the window

long term care planning


8 Critical Mistakes Seniors Make with Long-Term Care Planning

The long-term care planning process can be complicated and overwhelming. Avoid these eight critical mistakes to ensure you can better protect yourself, your assets, and your loved ones in the face of a long-term care stay.

December 17, 2020

adult daughter helping elderly mother

advance planning


What is a Power of Attorney and Why Do You Need One?

As you grow older, your chances of experiencing a health crisis and becoming ill increase. Therefore, it’s important to have plans in place in case you are unable to make decisions for yourself. That’s where a power of attorney (POA) comes in. Let’s explore what a POA is and why you should have one.

December 3, 2020

front of house with orange door

medicaid planning


What Assets Can You Keep on Medicaid?

In addition to Medicaid’s income restrictions and non-financial requirements, applicants must also meet specific asset limitations. In fact, the asset qualification is typically the hardest for applicants to meet. Fortunately, not all of your assets are countable for Medicaid purposes. You can keep certain exempt assets while still qualifying for Medicaid.

November 19, 2020

person handing cash to another person

medicaid planning


How to Pay for a Nursing Home Stay

The reality is that 70% of seniors will require long-term care at some point in their lives. Unfortunately, many of them are unprepared for the high costs associated with the nursing home. And they’re stuck asking themselves, “How am I going to pay for this?” Well, if you’re wondering how to pay for a nursing home stay, you’re in the right place.

November 6, 2020

senior couple speaking to attorney about LTCI

advance planning


When Should You Buy Long-Term Care Insurance?

Long-Term Care Insurance (LTCI) is one of the most common tools used in the advance planning process. In addition to a nursing home stay, LTCI benefits can typically be used for at-home care or an assisted living facility. But when is the best time to purchase a Long-Term Care Insurance policy?

October 30, 2020

open book in library with gavel

elder law


What is Elder Law?

As a growing number of Americans reach age 65, they encounter unique issues and problems they have likely never come across before. That’s where elder law comes in. Explore the scope of elder law and how an elder law attorney can help you address the unique challenges that come with aging.

October 15, 2020

stamp on application paperwork

medicaid planning


What Happens When You Get a Medicaid Denial?

Since Medicaid has such strict financial requirements and a comprehensive application process, it’s possible you might receive a denial. Fortunately, you have the right to appeal the unfavorable decision and request a fair hearing. Here's what to expect in the event of a denial.

September 24, 2020

stack of paperwork with pens and glasses on a table

medicaid planning


How to Complete the Medicaid Application

If you are in the Medicaid planning process, the final step in your plan is to complete the Medicaid application. Your state’s Medicaid agency will provide all the details you will need as you fill out your application. But we wanted to give you an overview of what to expect throughout the application process.

September 10, 2020

scales of justice

medicaid planning


The Legislative History of Medicaid

The Medicaid program has been around for a while, but it’s gone through several updates since it was first signed into law. Let’s take a journey through those legislative changes to see how we got the Medicaid program we have today, specifically as it pertains to long-term care.

August 27, 2020

A thorough estate plan includes all of your assets along with a clear plan for transferring those assets to the people or entities you want to receive them upon your passing. Let’s walk through a checklist of what should be included in your estate plan.

advance planning


An Estate Planning Checklist

A thorough estate plan includes all of your assets along with a clear plan for transferring those assets to the people or entities you want to receive them upon your passing. Let’s walk through a checklist of what should be included in your estate plan.

August 13, 2020

coins in a jar and stacks next to it

medicaid planning


What are Medicaid’s Income Restrictions?

Since Medicaid is designed for individuals with limited means, you must meet specific asset and income limitations in order to qualify. It’s important to understand these restrictions before establishing a Medicaid plan and applying for benefits. So, let’s walk through the income restrictions for Medicaid.

July 30, 2020

elderly man with cane sitting with nurse

medicaid planning


What is Medicaid?

Medicaid is a government program funded on both the state and federal levels that is designed to provide health coverage for individuals with limited income and assets. Find out how Medicaid can help older adults pay for their long-term care.

July 16, 2020

Calculator and calendar

medicaid planning


What are the Medicaid Lookback and Penalty Periods?

If a Medicaid applicant has given a gift during the lookback period, they may be subject to a penalty period, during which they will be ineligible for benefits. Being aware of the lookback and penalty periods is crucial for anyone planning for long-term care.

July 9, 2020

Elderly married couple holding hands

medicaid planning


What Happens When One Spouse Goes into a Nursing Home?

When only one spouse requires nursing home care, you may have trouble determining the best way to pay for care in order to prevent impoverishment for the spouse at home. Learn how each spouse has different financial qualifications for Medicaid.

July 8, 2020

Glasses on a desk

medicaid planning


What Does Medicaid Cover in a Nursing Home?

Medicaid coverage for nursing home care is unlimited as long as you remain financially eligible. Here’s a breakdown of what Medicaid covers in a nursing home as well as some of the additional amenities you may be charged for.

July 8, 2020

Attorney discussing Medicaid Spend Down

medicaid planning


How to Spend Down Assets for Medicaid

If you are facing a nursing home stay, chances are you’ve considered Medicaid. But what happens if you have too many assets to qualify? Fortunately, you have several options to spend down those assets and accelerate your Medicaid eligibility.

June 30, 2020

Elder Law Attorney working with elderly couple

long term care planning


How Can an Attorney Help with Long-Term Care?

Every long-term care situation involves its own unique set of challenges, many of which can be eased by working with an elder law attorney. Learn about what elder law attorneys do and how they can help you as you navigate your long-term care.

June 30, 2020

Books on a shelf

long term care planning


Medicare vs. Medicaid: Paying for Long-Term Care

Although the terms sound alike and the programs may seem similar on the surface, Medicare and Medicaid have important differences for you to be aware of, especially when it comes to skilled and long-term nursing care. 

June 22, 2020

Elderly Couple Overlooking the Water

long term care


What’s the Difference Between Assisted Living and a Nursing Home?

For many families, making the choice between assisted living and nursing home care can be difficult. To help you make a well-informed decision, we explore some of the key attributes that separate assisted living facilities and nursing homes.

June 4, 2020

Nurse helping elderly woman

long term care


What is a Skilled Nursing Facility?

Since most people have a strong understanding of nursing homes, confusion often arises from the term “skilled nursing,” which defines the services offered at the facility. Get a stronger understanding of what a skilled nursing facility is and how it may fit into your long-term care plan.

May 20, 2020

Stack of folders and a calculator

long term care planning


Advance Planning vs. Medicaid Planning for Long-Term Care

Planning in advance allows you to take certain measures in case you require long-term care in the future, while waiting typically requires qualifying for Medicaid in order to pay for care. Explore some of the key characteristics that separate advance planning and Medicaid planning.

May 6, 2020

Cash on a calendar

medicaid planning


What is a Medicaid Compliant Annuity?

If you are currently paying out of pocket for the nursing home, you may benefit from a Medicaid Compliant Annuity (MCA) – one of the most powerful Medicaid planning tools available. Continue reading to learn more about Medicaid Compliant Annuities and find out if it’s the right product for you.